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    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

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    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

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Soludo Shuts Onitsha Market for a Week Over Adherence to Monday Sit-at-Home

Monday, 26 January 2026, 1:16 pm
in Business, News, Nigeria
0
Anambra to begin payment of new minimum wage.
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In an effort to address ongoing economic disruptions, Anambra State Governor Chukwuma Soludo has ordered the closure of the busy Onitsha Main Market for one week, effective immediately.

This decision comes in response to traders’ continued adherence to the Monday “sit-at-home” order, which has affected Nigeria’s Southeast region despite government attempts to eliminate it.

During an unannounced visit to the market this morning, Governor Soludo found most stalls closed, contradicting state directives to resume normal operations on Mondays.

He described this non-compliance as “economic sabotage” and announced the market’s closure on-site, accompanied by security forces who promptly sealed the entrances.

“You either decide to trade here or go elsewhere,” Soludo warned, threatening to extend the closure for an additional month if defiance continues after reopening next Monday.

The sit-at-home tradition originated from protests by the Indigenous People of Biafra (IPOB) demanding the release of their leader, Nnamdi Kanu.

It has since evolved into a fear-driven ritual enforced by armed groups, crippling commerce each week and costing the region billions in lost revenue. Although Soludo’s administration has increased security measures to encourage compliance, today’s action represents a significant escalation.

 As Anambra strives for normalcy, the coming week will determine whether this closure breaks the cycle of the sit-at-home order or deepens existing divisions.

Vivian Ifunanya Gerald

Administrator and Writer

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